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Archive for March 8th, 2019

Elon Musk’s Boring Company Is Coming to Las Vegas

Las Vegas is betting big on an Elon Musk-backed means of transportation as the city is looking to advertise itself to a diverse public of potential visitors

News emerged Wednesday that the Las Vegas Convention and Visitors Authority has recommended that an Elon Musk-backed enterprise be awarded a contract to develop and operate an express tunnel transit system through which visitors at the city’s Las Vegas Convention Center would be transported.

Musk founded his tunneling venture The Boring Company (pun intended) in late 2016. He indicated his plans to establish the tunnel construction company with a tweet (just as he often does), saying “Traffic is driving me nuts. Am going to build a tunnel boring machine and just start digging…” Indeed he started digging a tunnel under Hawthorne, California to test his underground transit system idea. He showed off the finished tunnel to journalists in December 2018, precisely two years after he first revealed his ambitions to end traffic jams for good.

While the eccentric businessman’s plan was met with a significant amount of scepticism, just as many of his other ambitious projects, it seems that Las Vegas might be ready to embrace it.

What Does Musk’s Las Vegas Plan Involve?

The Las Vegas Convention and Visitors Authority revealed yesterday that it has recommended a plan for the construction of a two-mile-long tunnel system underneath the Las Vegas Convention Center, which is currently undergoing expansion as Las Vegas is looking to bet bigger on convention tourism in the years to come. The city’s Convention and Visitors Authority is tasked with operating the convention facility, which annually hosts well over one million people.

The tunnel system would be ready to debut by January 2021, right ahead of that year’s edition of the Consumer Electronics Show. The curious means of transportation would cost between $35 million and $55 million, according to initial projections.

A fleet of autonomous electric vehicles would transport people around the Las Vegas Convention Center through the underground tunnel system, when and if it becomes operational. Future plans also involve the construction of tunnels that would transit people to the city’s legendary casino strip. The fleet of vehicles could include Tesla’s Model X and Model 3 as well as a vehicle that would easily seat 16 people. The undergoing transport services would be free for people attending conferences and exhibitions taking place at the Convention Center.

Approval Needed

The Convention and Visitors Authority needs approval by its Board of Directors in order to be able to move on with its plan. It is expected to present to the board its recommendation to select The Boring Company as the developer of the tunnel system on Tuesday, March 12. Commenting on the newly emerged information, authority CEO Steve Hill told The Associated Press that the project is “really innovative” and that “it will be an attraction in and of itself, frankly.”

Mr. Hill went on to explain that while details of the future tunnel system are yet to be finalized, it would probably feature three or four stations, each of them located at the entrances of the Convention Center’s halls. People would be transported in electric vehicles through parallel tunnels. Each of the tunnels would be running in a single direction.

The authority’s CEO acknowledged that the technology that would support the innovative means of transportation has not been put to commercial use yet, but he pointed out that The Boring Company has the talent to materialize the ambitious project.

The authority also has a plan for the expansion of the underground transport system with routes that would connect the Las Vegas Strip, downtown Vegas, and McCarran International Airport.

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The post Elon Musk’s Boring Company Is Coming to Las Vegas appeared first on Casino News Daily.

Darren Elias Vies for 5th WPT Title with LAPC Final Table Chip Lead

Elias secures the chip lead into the L.A. Poker Classic six-handed final table, attacks record-breaking fifth WPT Main Event table

After five days of quality poker action at Commerce Casino in the Los Angeles area, the six-handed final table of this year’s WPT L.A. Poker Classic was set Wednesday night. The six finalists will resume play next Monday at the brand-new HyperX Esports Arena at Luxor Las Vegas for the first televised final table of the WPT’s current season.

Record-breaking WPT Main Event title winner Darren Elias is leading the pack of finalists after dominating performance on Day 5 of the tournament. Elias started the penultimate day of the LAPC second in chips, trailing only David ODB Baker, but amassed a massive stake throughout the day to secure a comfortable entry into the final table stage of the tournament.

Elias has already recorded four WPT Main Tour Main Event titles under his name and is actually the only player to have ever accomplished that feat. A fifth title will come as another WPT record crushed by the seasoned poker pro.

Elias claimed his first title in 2014 when he took down the Borgata Poker Open. Title number two came during the same year, when the player was crowned the WPT Caribbean champion. In 2017, he captured his third title for besting the field of the Fallsview Poker Classic. Elias won his record-breaking title last year when he emerged victorious in the Bobby Baldwin Classic.

The Final Six

Elias put 9.07 million into his bag last night for the chip lead. The player started the final day of action second in chips, but emerged as the chip leader in the early minutes of action. He had gained hold 41% of all chips in play by the end of Day 5. Elias was actually the player who set the official final table after eliminating former WPT champ James Carroll in 7th place.

Start-of-the-day chip leader David ODB Baker finished the day with the second largest stack, good for 4.76 million. Champions Club member Matas Cimbolas bagged and tagged 4.675 million last night for the third largest stack.

Jean-Claude Moussa with 1.25 million, Steve Yea with 1.205 million, and John Smith with 895,000 were the other three players to make it to the official six-handed final table.

Each of the six-finalists is guaranteed a min-cash of just over $201,000. However, eyes are set on the top prize of $1.015 million, including a $15,000 ticket into the season-ending Baccarat Crystal WPT Tournament of Champions.

This year’s edition of the WPT L.A. Poker Classic drew 546 entries who generated a prize pool of $5,169,270. The top 69 finishers received a share of the money, min-cashes starting from $17,230.

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Sports Betting at Valley Forge Turf Club Gets PGCB Go-Ahead

Valley Forge Turf Club expected to debut a brick-and-mortar sportsbook in the coming weeks, becoming the fifth wagering location in the Philly area

Sports betting is set to arrive to an eighth location in Pennsylvania after the state Gaming Control Board approved during its Wednesday scheduled meeting the license application of Greenwood Gaming to operate wagering at its Valley Forge Turf Club in Oaks.

The off-track betting parlor will be Greenwood’s third sports betting location after it launched sportsbooks at Parx Casino in Bensalem and the South Philly Turf Club in Philadelphia.

Greenwood is expected to open its latest brick-and-mortar betting facility in the next few weeks. The sportsbook at the Valley Forge Turf Club will be the fifth operation of this kind in the Philadelphia region.

Yesterday’s approval of Greenwood’s betting license application came as part of a larger gambling expansion push in Pennsylvania. The state legalized sports betting and online gambling in the fall of 2017, well ahead of last May’s ruling of the US Supreme Court that struck down a long-standing federal ban on sports betting.

Although Pennsylvania did not need to prepare and approve a sports betting legislation in the wake of the landmark SCOTUS decision, it took the state up until late 2018 to launch first legal sports betting. Hollywood Casino at Penn National Race Course was the property to debut Pennsylvania’s first sportsbook in mid-November.

While February financial data is still unavailable, the Pennsylvania Gaming Control Board’s January report showed that the state’s operational sportsbooks handled $32 million in wagers that month. In comparison, neighboring New Jersey recorded more than $400 million in bets in January. Of that, $305 million was placed online. In other words, Pennsylvania’s sports betting market will likely receive a major boost once digital betting goes live.

When Is Online Sports Betting Coming to Pennsylvania?

Pennsylvania Gaming Control Board Executive Director Kevin O’Toole said during a budget hearing before the State House Appropriations Committee that took place late last month that regulated online gambling and sports betting will go live in the state around July 1.

The state gambling regulator has said previously that it would first handle all applications for brick-and-mortar betting operations before moving on with the ones for the conduction of digital wagering services.

However, last month’s publication of a reinterpretation of the Interstate Wire Act of 1961 has further delayed the launch of online gambling in the state. The Department of Justice’s revision of the federal law basically covered interstate gambling. Pennsylvania decided to wait a little bit longer before giving the green light to online betting and gaming services, giving license applicants time to make sure that their operations will be fully compliant.

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The post Sports Betting at Valley Forge Turf Club Gets PGCB Go-Ahead appeared first on Casino News Daily.

Delta Dives Deeper into Fantasy Sports with Minority Stake in HalaPlay

Delta extends its footprint in the lucrative fantasy sports field with the purchase of a minority stake in India’s second largest DFS business

Indian gaming and hospitality giant Delta Corporation has recently announced plans to venture further into the fantasy sports field. In a filing with the National Stock Exchange of India, the company said that it entered into an agreement to acquire 31,994 equity shares or a 15.52% stake in HalaPlay Technologies Pvt Ltd, the owner of daily fantasy sports platform HalaPlay.

Delta will pay Rs. 15.50 crores in cash for its interest in the fantasy sports operator in two tranches. The hotel and casino company also pointed out that it intends to finalize the transaction before May 1, 2019, subject to conditions precedent by HalaPlay.

Founded in 1985, Delta has grown into India’s largest and the sole listed casino and hospitality company. It operates casinos in three Indian states, with those being Goa and Sikkim as well as in the Daman District. Aside from its physical gambling properties, it also runs the Adda52 online gaming operation which features online poker and online games of rummy.

First Foray into Fantasy Sports

Delta’s recently announced involvement with HalaPlay does not represent its first foray into the world of fantasy sports. The gaming and hospitality giant launched last February its LeagueAdda operation, which offers cricket, football, and kabbadi fantasy sports contests.

Under the terms of its deal to acquire a minority stake in HalaPlay, Delta said that its wholly owned subsidiary Gaussian Networks Private Limited has entered into an agreement to transfer its fantasy sports business as a going concern to HalaPlay. Gaussian will be allotted 10,320 shares in HalaPlay as a result from the transfer. It will thus acquire a 4.03% stake in the fantasy sports operator.

HalaPlay was established in August 2016. The operation claims to be India’s second largest cash-based daily fantasy sports operator. It recorded turnover of Rs. 298.13 lakhs for the 2017-18 financial year. Early-stage investment fund Kae Capital and social gaming company Nazara Technologies Limited were among the early financial backers of HalaPlay, investing an undisclosed amount in the fantasy sports operator and helping it gain foothold in the lucrative space.

As mentioned above, Delta expects to complete all related transactions by May 1, 2019. The deal does not require regulatory approval to be finalized. After the purchase of the 15.52% stake in HalaPlay and the allocation of a 4.03% stake in the fantasy sports operation is complete, Delta will practically own a 19.55% stake in HalaPlay. The casino and hospitality operators that the deal will bring further value and will strengthen its position in the competitive online gaming space.

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The post Delta Dives Deeper into Fantasy Sports with Minority Stake in HalaPlay appeared first on Casino News Daily.

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